Philadelphia, Pennsylvania Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Philadelphia, Pennsylvania rental market.
Philadelphia, Pennsylvania
Average Apartment Rent
$2,002
Y-o-Y Change in Average
Apartment Rent
1%
As of March 2026
Compared to a year ago, Philadelphia, Pennsylvania apartments have recorded a 1% rent increase.
Philadelphia, Pennsylvania Average apartment rent trend
Philadelphia, Pennsylvania Average Apartment Rent
Philadelphia, Pennsylvania Apartment rent ranges
At 32.71%, apartments priced $1,500 - $2,000 represent the bulk of Philadelphia, Pennsylvania rentals, while condos priced Under $1,000 hold the lowest share of the market – 1.93%.
Philadelphia, Pennsylvania Housing tenure**
Renters take up 48% of Philadelphia, Pennsylvania real estate, occupying a total of 314,980 units, while homeowners live in 344,149 properties.
Median number of rooms of renter-occupied housing units**
4.1
Renter median household income**
$43,713
Average household size of renter-occupied housing units**
2.18
Rental vacancy rate**
5.3%
Philadelphia, Pennsylvania Renter-occupied housing units by no. of bedrooms**
There are 91,578 rentals in Philadelphia, Pennsylvania with 2 beds making up the highest share of the market, at 29%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 4,390 units. Overall, the median number of rooms in Philadelphia, Pennsylvania homes for rent is 4.1.
Philadelphia, Pennsylvania Renter-occupied units by age of householder**
Most condos for rent in Philadelphia, Pennsylvania are occupied by residents in the 25 - 34 years age group (33%), followed by those in the 35 - 44 years age group (19%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Philadelphia, Pennsylvania Renter-occupied housing units by family type**
Philadelphia, Pennsylvania Renter-occupied housing units by the presence of own children**
A total of 133,255 apartments for rent in Philadelphia, Pennsylvania, or 42% of all rentals are family households. Additionally, 26% of rental homes include children under the age of 18 – that’s 80,953 units. All in all, the median size of a renter-occupied household in Philadelphia, Pennsylvania is 2.18.
Philadelphia, Pennsylvania Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 36% of the rental market. In contrast, residents with less than a high school degree reside in 12% of the homes for rent in Philadelphia, Pennsylvania.
Philadelphia, Pennsylvania Renter-occupied units by year structure built**
The highest share of Philadelphia, Pennsylvania apartment rentals, namely 36% or 113,483 units, were Built 1939 or earlier, followed by those Built 1950 - 1959 (13%, 40,095 units), and the ones Built 1960 - 1969 (11%, 35,246 units).
Philadelphia, Pennsylvania Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Philadelphia, Pennsylvania renters (43%) moved in 2010 to 2017, while only 3% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Philadelphia, Pennsylvania condos for rent is 2016.
Philadelphia, Pennsylvania Renter-occupied housing units by vehicles available**
When it comes to transportation options, 44% of Philadelphia, Pennsylvania renters have 1 vehicle available per household, 40% of them have No vehicle available, and 13% have 2 vehicles available.
Philadelphia, Pennsylvania Means of transportation to work of householders living in renter-occupied housing units**
Philadelphia, Pennsylvania Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Philadelphia, Pennsylvania apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
